ST. JOHN'S, N.L. - The Canada-Newfoundland and Labrador Offshore Petroleum Board says two drilling rigs off Newfoundland's coast have disconnected their wells due to approaching icebergs. The board's Twitter account said Sunday the Henry Goodrich and West Aquarius safely disconnected from their wells as a precaution. Spokesman Sean Kelly says the move is required under the ice management plans of the operators. The Canada-Newfoundland and Labrador Offshore Petroleum Board regulates the [Read more]
News
WATCH: Terrific film shot in 1947 about the oilfields in Turner Valley
We here at the BOE Report love history. Specifically, the oilpatch's history. So when we came across a video, shot in 1947 and filmed in Turner Valley, which showcased Southern Alberta's oilfields, we had to share it. Story of Oil explains 1940's Turner Valley oil exploration, seismology, coring labs, drilling and completion--and offers a friendly reminder why the world needs oil. Enjoy! [Read more]
Energy Dept. welcomes firm’s pledge to reveal fracking chemicals, but Halliburton won’t commit
PITTSBURGH - The U.S. Department of Energy said Friday that it welcomes the decision by oil and gas industry supplier Baker Hughes to disclose all chemicals in hydraulic fracturing fluid. But Halliburton, a major competitor in the field, isn't committing to such disclosure.Deputy Assistant Energy Secretary Paula Gant said that Baker Hughes' move "is an important step in building public confidence" and the department "hopes others will follow their lead."The oil and gas industry has said the [Read more]
Crude oil price eases after rising to near $102 a barrel on Ukraine uncertainty
LONDON - The price of oil declined below US$101 per barrel after disappointing earnings in the U.S. on Friday, having earlier risen on worries about the tensions in Ukraine.Benchmark U.S. crude for June delivery shed $1.07 to $100.87 on the New York Mercantile Exchange. Brent crude, an international benchmark for oil, gave up 27 cents to $110.06 on the ICE Futures exchange in London a day after gaining $1.22.Ukraine is going through its biggest political crisis since the fall of the Soviet [Read more]
Shoreline Energy Corp. Announces Forbearance Agreement With Senior Lender
CALGARY, ALBERTA--(Marketwired - April 25, 2014) - Shoreline Energy Corp. (TSX:SEQ) ("Shoreline" or the "Corporation") announces that it has entered into a Forbearance Agreement with its senior secured lender, Alberta Treasury Branches (the "Forbearance"). Subject to completion of similar arrangements with its other secured lenders which are currently under negotiation, the Forbearance provides Shoreline with continued access to the credit facility and restrictive covenants have been waived [Read more]
Gear Energy Announces $85 Million Asset Acquisition and Increased 2014 Capital Budget
CALGARY, ALBERTA--(Marketwired - April 24, 2014) - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to announce today that it has entered into an agreement to acquire (the "Acquisition") heavy oil assets focused near the Company's core producing areas of Wildmere, Alberta and Maidstone, Saskatchewan (the "Assets"). The Assets include over 2,000 boe per day of high working interest, operated heavy gravity crude oil production (98 percent oil). The purchase price for the Assets is [Read more]
Canadian Oil Sands Reports Syncrude Coker Outage
CALGARY, ALBERTA--(Marketwired - April 24, 2014) - Canadian Oil Sands Limited ("COS") (TSX:COS) today announced that Syncrude has begun unplanned maintenance work on Coker 8-1. It is expected that this maintenance work will overlap the turnaround of Coker 8-2 scheduled for the second quarter. COS has revised its estimate for the annual Syncrude production range to 95 to 105 million barrels with a single point estimate of 100 million barrels for 2014. This equates to 35 to 38.6 million barrels [Read more]
Crude oil rises to near US$102 a barrel on Ukraine uncertainty
The price of oil rose to near US$102 a barrel Thursday on worries about tensions in Ukraine. Benchmark West Texas Intermediate crude for June delivery rose 50 cents to close at US$101.94 a barrel on the New York Mercantile Exchange. Brent crude, an international benchmark, gained $1.22 to US$110.33 a barrel on the ICE Futures exchange in London. Ukraine is going through its biggest political crisis since the fall of the Soviet Union. Ukrainian forces launched an operation Thursday to drive [Read more]
Cequence Energy achieves record production of 14,000 boepd
CALGARY, April 24, 2014 /CNW/ - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to report that estimated daily production volumes have reached a record of 14,000 boepd during the second half of April following the startup of the Ansell facility and completion of its winter capital program. Simonette At Simonette, the final two wells of the Company's Montney winter drilling program were completed and are producing with much higher liquid yields than average wells of the [Read more]
RMP Energy Achieves Record Quarterly Production and Increases 2014 Production Guidance
CALGARY, ALBERTA--(Marketwired - April 24, 2014) - RMP Energy Inc. ("RMP" or the "Company") (TSX:RMP) is pleased to announce record average daily production for the first quarter of 2014 and increased fiscal 2014 production market guidance. First Quarter 2014 Production Update On March 1, 2014, RMP commissioned its expanded Ante Creek battery facility and commenced delivering light oil and associated natural gas into the downstream sales receipt point through its Ante Creek-to-Waskahigan [Read more]